#Lithuania #Höegh Evi #FSRU Independence #KN Energiés #Klaipėda

A Landmark Shift in Lithuania's Energy Landscape

Höegh Evi, renowned for its expertise in marine energy infrastructure, has recently concluded a significant transaction that may alter Lithuania's energy framework for years to come. The ownership of the floating storage and regasification unit (FSRU) Independence, which has been pivotal for the nation's energy supply, has officially transitioned to KN Energiés and the state of Lithuania. This milestone marks not only the culmination of a strategic agreement established years ago but also reinforces Lithuania's ambitions for energy autonomy.

A Commitment to Energy Independence

Initially commissioned by Lithuania in 2014, the FSRU Independence was designed with a regasification capacity specifically tailored to accommodate the country’s entire natural gas consumption. Through an agreement facilitated by Höegh Evi and the Lithuanian government, the option to acquire the FSRU was secured for completion by the end of 2024, solidifying Lithuania's commitment to safeguarding this crucial resource.

Lithuania's President, Gitanas Nausėda, emphasized the significance of the Klaipėda LNG terminal as a powerful testament to the country’s determination to achieve energy independence. He remarked on the terminal's role as a crucial asset in promoting energy security in the region, noting that it serves as a symbol of Lithuania's tenacity in the pursuit of diversification within its energy sector.

A Legacy of Reliability and Safety

Under the management of Höegh Evi, the Independence has benefitted Lithuania by supplying nearly 16 billion cubic meters of natural gas, facilitating almost 500 ship-to-ship operations with an impeccable safety history. The successful operational record of the FSRU has played a crucial role in enhancing Lithuania's energy security, marking a significant departure from previously relied-upon sources.

Erik Nyheim, Höegh Evi's President and CEO, expressed pride over the acquisition, noting that Lithuania's initiative to leverage marine infrastructure as a strategy for energy security has become a blueprint for other nations. Nyheim conveyed Höegh Evi's commitment to continue collaborating with KN Energiés, ensuring that Lithuania remains a reliable supplier of natural gas not just for itself but for neighboring countries as well.

Continued Collaboration

Importantly, even after the transfer of ownership, Höegh Evi will maintain its role as the technical operator of the FSRU Independence. This ensures a seamless transition as KN Energiés takes the reins. CEO of KN Energiés, Darius Šilenskis, reiterated the enduring relationship with Höegh Evi, emphasizing past cooperation that laid the groundwork for this transition and the mutual benefits anticipated in the future. For a period extending potentially up to ten years, Höegh Evi will offer operational and technical management services to guarantee the FSRU's efficiency and safety.

Conclusion

The transfer of FSRU Independence to KN Energiés represents a significant step forward for Lithuania in its quest to fortify energy independence and security. As the transition is completed, the collaborative spirit between Höegh Evi and KN Energiés promises to establish a robust framework for Lithuania's energy landscape, prompting regional stability and diversification within the energy sector. The Lituanian flag now stands proudly over a facility that not only symbolizes resilience but also hope for a sustainable energy future.